[144] CG Oncology, Inc. SEC Filing

Rhea-AI Filing Summary

CG Oncology, Inc. (CGON) filed a Form 144 reporting a proposed sale of 35,441 common shares with an aggregate market value of $1,336,834.52. The notice lists Morgan Stanley Smith Barney LLC as the broker and identifies the approximate sale date as 09/18/2025 on NASDAQ. The shares were recorded as acquired on 09/18/2025 through an exercise of stock options, paid in cash. The filing also discloses a prior Rule 10b5-1 sale by James J. Mulay of 27,015 shares on 09/05/2025 for gross proceeds of $851,759.01. The filer represents no undisclosed material adverse information.

Positive

• Full disclosure of proposed sale including broker, quantity, value, and approximate sale date
• Acquisition and payment details provided (exercise of stock options on 09/18/2025 paid in cash)
• Prior 10b5-1 sale disclosed showing use of a structured trading plan and transparency

Negative

• Insider is proposing to sell shares, which may be interpreted by some investors as a liquidity event
• Filing contains no operational or financial performance data to provide context for the sale

Insights

Financial Analyst

TL;DR: Insider option exercise and proposed sale are disclosed; transaction size is modest relative to outstanding shares.

The filing shows an insider exercising options and proposing to sell 35,441 shares valued at $1.34 million, against 76,247,581 shares outstanding, which represents a small fraction of the company's capitalization. The disclosure is routine and follows SEC Rule 144 procedures. The recent 10b5-1 sale of 27,015 shares for $851,759.01 indicates prior liquidity activity by an insider. There are no earnings or operational metrics in this filing to assess company performance.

Corporate Governance Expert

TL;DR: Proper insider sale disclosures and 10b5-1 plan usage are evident; no governance red flags are stated.

The Form 144 provides required broker, acquisition, and sale-date information and includes the signature attestation about material nonpublic information. The use of a broker and prior 10b5-1 sales suggests adherence to structured trading protocols. The filing does not disclose any material nonpublic information or governance issues; therefore, from a disclosure-compliance perspective, the document appears complete for the transaction reported.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	35441	1336834.52	76247581	09/18/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	09/18/2025	Exercise of Stock Options	Issuer			35441	09/18/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
10b5-1 Sales for JAMES J MULAY 400 SPECTRUM CENTER DRIVE, SUITE 2040 IRVINE CA 92618	Common	09/05/2025	27015	851759.01

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the CGON Form 144 report?

The filing reports a proposed sale of 35,441 common shares valued at $1,336,834.52, to be executed approximately on 09/18/2025 via Morgan Stanley Smith Barney LLC.

How were the shares acquired that are being sold in the CGON filing?

The shares were acquired on 09/18/2025 through an exercise of stock options and paid for in cash.

Has any insider sold CGON shares recently?

Yes. A Rule 10b5-1 sale by James J. Mulay of 27,015 shares occurred on 09/05/2025 for gross proceeds of $851,759.01.

On which exchange will the CGON shares be sold?

The proposed sale is listed for execution on NASDAQ.

How large is the proposed sale relative to outstanding shares of CGON?

The proposed 35,441 shares are reported against 76,247,581 shares outstanding in the filing.